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Pros and cons of buying a condo. ... Pros. Lower price: Condos usually have much lower entry price points than freestanding homes, and property taxes tend to be lower, too.
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Homeownership can come with many benefits, like escaping high rents and the chance to achieve a bit more stability. Owning your own place could give you the space and freedom you want to renovate ...
For example, an owner would like to have a pool but cannot afford one. When buying a condominium with a pool in a CID of one hundred units, an owner would have use of that pool for basically one-hundredth of the cost due to sharing the cost with the other 99 owners. [5] Timeshare, or vacation ownership, is the same concept. Buying a second home ...
Condominium is an invented Latin word formed by adding the prefix con-'together' to the word dominium 'dominion, ownership'. Its meaning is, therefore, 'joint dominion' or 'co-ownership'. [4] Condominia (the Latin plural of condominium) originally referred to territories over which two or more sovereign powers shared joint sovereignty. This ...
A condominium or "condo" is a form of housing tenure and other real property where a specified part of a piece of real estate (usually of an apartment house) is individually owned. Use of land access to common facilities in the piece such as hallways, heating system, elevators, and exterior areas are executed under legal rights associated with ...
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Buying a new home in retirement: Pros, cons and weighing your options. Anna Serio-Ali. Updated December 13, 2024 at 3:42 PM. ... Condos can be a good choice for folks who plan to travel ...
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